Investing in Precious Metals 101 Ad
  • Daily Digest

    Daily Digest 8/10 – The Worst Is Still To Come In Energy Markets, MS ICE Raid Causes Chaos For Children

    by Daily Digest

    Saturday, August 10, 2019, 7:14 AM

Economy

This rebound is a ‘bump in the road on the way down,’ says strategist predicting ‘Lehman-like’ drop (thc0655)

Takada said in a note to clients on Tuesday that the next sell-off could resemble a crisis-level plunge like the one that followed Lehman Brothers’ collapse. The bold call turned heads on Wall Street as many see a market correction at most. The call is based on Nomura’s proprietary sentiment data, which show a “deterioration in supply demand for equities and a sharp downward break in fundamentals.”

TREASURIES-Recession fears pummel U.S. 30-year yields to near record low (Thomas R.)

fuel to the rally,” said Jonathan Cohn, interest rate strategist at Credit Suisse in New York. Torrid demand for Treasuries is expected to support demand for $27 billion of 10-year government notes for sale at 1 p.m. ET.

Fed Trapped in a Rate-Cutting Box: It’s the Debt Stupid (Roger B.)

The ECB made a huge fundamental mistake. Whereas the the Fed bailed out US banks by paying interest on excess reserves, the ECB contributed to the demise of European banks, especially Italian banks and Deutsche by charging them interest on excess reserves that it forced into the system.

Capital One breach: What you can do following bank data hack (Thomas R.)

About 140,000 Social Security numbers and 80,000 linked bank account numbers were exposed, Capital One said. And for Canadian credit card customers and applicants, approximately 1 million Social Insurance Numbers. Capital One said, however, that no credit card account numbers or login credentials were revealed in the hack.

Inflation Before Recession – Buy Energy Shares (Thomas R.)

The recent sudden slide has finally gotten some people to realize that, alas, we could be in some kind of downtrend after all. The media have created the illusion that the latest U.S. stock-market pullback was caused by Trump, tariffs, earnings, employment data, and other allegedly unpredictable events. However, the Russell 2000 has been screaming loudly and clearly that a major loss would have to happen relatively soon.

ICE Mississippi Raid That Saw 680 Workers Arrested Took Place On First Day Of School, Causing Chaos For Children (Sparky1)

In fact, many parents detained by ICE in Wednesday’s raids, which saw 680 workers arrested across seven food processing plants in six cities, would have likely had a busy morning dropping their children off for the fresh start of a new school year before showing up to work, unaware that they would be leaving in the hands of ICE.

China Signals It Will Continue to Weaken Its Currency as Trade War Rages (Thomas R.)

Such a hair’s breadth move occurs every day in global currency markets. The renminbi is already trading just above 7 to the dollar, a psychologically important level it breached on Monday in China.

SoftBank’s big bet on tech is paying billions (Thomas R.)

SoftBank founder Masayoshi Son launched the $100 billion Vision Fund in May 2017, with nearly half the money coming from the Saudi government. That fund has made big investments in dozens of startups and is the largest shareholder in Uber.

3 central banks around the world just announced surprise rate cuts as fears of a global recession linger (Thomas R.)

New Zealand cut its official cash rate by 50 basis points to a record-low 1% on Wednesday, a more severe cut than economists predicted. Adrian Orr, the governor of the Reserve Bank of New Zealand, said at a press briefing that more cuts could follow and negative rates weren’t out of the question.

Jesse Ventura: “Payola: Democrats and Republicans sold our system to the highest bidder.” (Don R.)

Jesse Ventura and producer Brigida Santos talk about the new secretary of defense and his ties to the defense contractor, Raytheon. They also discuss Deutsche Bank’s investigation into the accounts of accused serial pedophile Jeffrey Epstein, and the Federal Trade Commission’s historic Facebook fine. RT’s Lee Camp talks about why the US has become a war-based economy.

Zillow wants to keep cashing in on flipping homes, but first it needs to stop losing money (Thomas R.)

Zillow buys houses directly from homeowners, pays for minor repairs and resells them. It makes cash offers to buy from homeowners and charges them a slightly higher fee, at 7.5%, than a traditional real estate agent selling a house would. The perk for sellers? They don’t have to go through the home showing process and have a more flexible move out period.

The Worst Is Still To Come In Energy Markets (Thomas R.)

Oppenheimer’s Wald went on to say that the sector’s largest stock Exxon Mobile is also projected to continue a downward trend, in a turn of events that is sure to have a negative impact on the energy sector as a whole. “Exxon Mobil [is] turning lower from the bearish slope of its 200-day moving average. We define that as a resumption of the downtrend,” said Wald. “When you’ve got the biggest stock in the sector acting as that headwind in what is a broad list of bearish trends in this sector, we recommend underweight, avoiding, stay away from energy,” he went on to tell CNBC.

Saudis Are Discussing Options With Producers to Halt Oil’s Slide (Thomas R.)

Planned gatherings in Abu Dhabi in the week starting Sept. 9 will be critical for leaders of the OPEC+ group, especially the Saudi and Russian energy ministers, to signal their intentions on production in the wake of oil’s price collapse, said Helima Croft, chief commodities strategist at RBC Capital Markets.

Trump administration reauthorizes use of “cyanide bombs” to kill wild animals (Sparky1)

Wildlife Services, the division of the U.S. Department of Agriculture responsible for wildlife management, is authorized to use the devices, as are state agencies in South Dakota, Montana, Wyoming, New Mexico and Texas. Wildlife Services kills large numbers of wild animals every year on behalf of farmers and ranchers.

Farm equipment maker Deere’s dealers reel from trade war, bad weather (Sparky1)

He is not alone. Half a dozen dealers of Deere’s agriculture equipment across the Midwest shared similar accounts in interviews with Reuters. One of those dealers, in Geneseo, Illinois, said sales at his dealership were down 50% so far this year from the same period last year.

Farmers tell Trump: ‘Give us China back’ (Don R.)

American farmers have already lost billions and the markets in China they spent decades to develop, as a consequence of President Donald Trump’s trade war, National Farmers Union president Roger Johnson tells News With Rick Sanchez. They would much rather have those markets back than a $28 billion bailout at taxpayers’ expense, says Johnson.

California’s Minimum Wage Rules Kill State’s Largest Recycling Center (thc0655)

In a classic example of the law of unintended consequences, the state’s $15/hour minimum wage rules are a contributing factor in its demise.

UN Says Humans Must Transform Our Diets and Land Use to Save the Planet (Roger B.)

Two years in the making, the report draws its data from more than 7,000 scientific papers. More than half the authors are from developing countries, and the report is notable for including the vital contributions of Indigenous peoples and local communities.

Russians rush to buy iodine after blast causes radiation spike: reports (Sparky1)

Although the ministry initially said no harmful chemicals were released into the atmosphere and radiation levels were unchanged, authorities in the nearby city of Severodvinsk reported what they described as a brief spike in radiation. No official explanation has been given for why such an accident would cause radiation to spike.

Chernobyl ‘Sarcophagus’ That Holds in Radiation From the World’s Worst Nuclear Disaster Is About to Cave in Under Its Own Weight (Sparky1)

This gives workers plenty of time to disassemble the older structure and decontaminate the materials from it. Chernobyl NPP has just awarded a contractor this task and set a completion date of 2023, the year that experts have suggested the sarcophagus would be able to survive until in the best-case scenario.

Siberia forest fires spark potential ‘disaster’ for Arctic (newsbuoy)

“The smoke is horrible. I am choking and dizzy,” pensioner Raisa Brovkina, who was hospitalised in Russia’s third-largest city Novosibirsk, told state television.

On Sunday, the smoke reached neighbouring Kazakhstan.

Russia Says Siberian Wildfires Started on Purpose by Illegal Loggers (newsbuoy)

The General Prosecutor said it had identified cases in which forest fires in the Irkutsk region of Siberia had been deliberately started in order to conceal illegal wood felling, the state-run RIA news agency reported.

“We have discovered such cases in Irkutsk region in which it seems fires were covering up illegal logging,” General Prosecutor’s spokesman Alexander Kurennoy was quoted as saying.

Gold & Silver

Click to read the PM Daily Market Commentary: 8/8/19

Provided daily by the Peak Prosperity Gold & Silver Group

Article suggestions for the Daily Digest can be sent to [email protected]. All suggestions are filtered by the Daily Digest team and preference is given to those that are in alignment with the message of the Crash Course and the "3 Es."

Related content
» More

7 Comments

  • Sat, Aug 10, 2019 - 9:13am

    #1

    thatchmo

    Status Silver Member (Offline)

    Joined: Dec 13 2008

    Posts: 330

    5+

    Epstein..."suicide"

    How very surprising!  No security video I imagine- “system failure”…perhaps he left some evidence with some brave soul….Aloha, Steve.

    Login or Register to post comments

  • Sat, Aug 10, 2019 - 9:56am

    #2

    davefairtex

    Status Diamond Member (Offline)

    Joined: Sep 03 2008

    Posts: 3227

    5+

    shocked, simply shocked

    Yes I’m shocked, simply shocked about the suicide.  Its too bad nobody thought to remove implements by which he could commit “suicide” from his person.  Its also too bad nobody was watching him on video.  I guess “nobody thought of that.”  Especially after the last time when he was found injured in his cell.

    https://www.scmp.com/news/world/united-states-canada/article/3022282/disgraced-us-financier-jeffrey-epstein-commits

    I suspect a whole lot of tools of the Deep State are breathing a sigh of relief right around this time.  *cough* Clinton *cough*

    Login or Register to post comments

  • Sat, Aug 10, 2019 - 10:21am

    #3

    sand_puppy

    Status Platinum Member (Offline)

    Joined: Apr 13 2011

    Posts: 1971

    5+

    ER suicide precautions

    Similar to Tom’s description of suicide watch at the Philly jails, when a person comes into the emergency department stating that they are suicidal several things happen.

    1.  All small tools and instruments are removed from the room.

    2.  An ED tech is stationed just outside their door for continuous line of sight observation.  They stay present and accompany the patient into the bathroom.  A police officer goes to the bathroom with them as well, though the policeman stands outside the door.

    3.  One hand is handcuffed to the gurney railing and shackles are placed on booth feet which are attached

    4.  The door is locked in the open position where it is visible from the nursing station.

    5.  Clothing and all personal belongings are removed from the patient and taken out of the room.  This is to remove concealed weapons.

    These procedures followed from bad experiences where suicides have been completed in the emergency department by determined patients.

    I am expecting some total bullshit story of how this all happened…..

    You guys all remember Kenny Lay’s death by heart attack after conviction, but before sentencing, for securities fraud?   George Bush 2 was a close friend of Kenny’s.  Numerous business partners were relieved to not have Kenny have a chance to explain to the sentencing judge that “everyone was doing it please go easy on me.”

    Login or Register to post comments

  • Sat, Aug 10, 2019 - 11:19am

    #4

    Chris Martenson

    Status Platinum Member (Offline)

    Joined: Jun 07 2007

    Posts: 4763

    9+

    Epstein - disappointed, but not surprised

    I was among the many who gave Epstein very poor chances at surviving to trial.

    There’s about a 0.01% chance this was an actual suicide.  If it was, it was an enabled one because he was left with the implement(s) to do the deed and nobody was watching.

    But that’s, again, a 0.01% probability.

    Especially after being found dazed and shocked with neck bruises a few weeks back.

    You know what would be really awkward?  If the camera’s on his cell were somehow malfunctioning at the time. That would be just painfully transparent.

    Oh.  There it is.

    *sigh*

    Twitter is working hard to suppress  this news, and has kept it mostly off of my feed, preferring to serve me instead all sorts of tasty oil news and other diversion.  So I go looking for it, and there there it is, where I notice that that, magically, #trumpbodycount has replaced #clintonbodycount.

    Twitter, like Farcebook and Gurgle have become blunt tools of the state.

    Even the most trusting of people are having a hard time with this one.

    And what, pray tell is Bill Clinton up to today, besides celebrating wildly?  He’s out trying to make the case that an assault weapons ban is the most pressing issue today.  Well, I( guess it is if you are part of a deeply corrupt elite worried about  backlash?

    With spectacular timing, here was one Twitter exchange Bill lost yesterday:

    However, that’s too much attention to just one of Epstein’s many child-raping pals.

    The machinery of state had to be put into motion to kill Epstein and that could easily have involved US, UK and Israeli security agencies and firms.  The list of suspects is long.

    If I were investigating,. I’d be tearing into every electronic and bank record of every person in the prison from the warden on down.  If I worked on that floor/shift, I’d stay very far away from toasters and tubs, small planes and anything sharp, heavy & blunt or poisonous.

    The disappointing part of all this is just how comfortable “they” are now. They are not even trying to hide their criminal actions anymore. It tells me we are farther along the slope of decay than I had thought, and I was pretty far long. This ups it all a notch.

    Login or Register to post comments

  • Sat, Aug 10, 2019 - 11:55am

    #5
    Sparky1

    Sparky1

    Status Member (Online)

    Joined: Jul 21 2016

    Posts: 61

    2+

    Decay and disgust

    Chris said, “The disappointing part of all this is just how comfortable “they” are now. They are not even trying to hide their criminal actions anymore. It tells me we are farther along the slope of decay than I had thought, and I was pretty far long. This ups it all a notch.”

    I cannot express how very disgusted and angry I am about this whole Epstein/Criminal Enterprise affair.  I can be pretty jaded at times, but I’m still shocked at how TPTB and their enablers have become so brazen and blatant in their total disregard for rule of law and human decency.  I guess “they” feel they no longer need to keep up appearances for the masses of “useless eaters.”  Truly, we must be nearing the end game.  :-/

    Login or Register to post comments

  • Sat, Aug 10, 2019 - 4:14pm

    #6
    ezlxq1949

    ezlxq1949

    Status Bronze Member (Offline)

    Joined: Apr 29 2009

    Posts: 257

    3+

    Astonished but not surprised

    Raúl Ilargi at the Automatic Earth was wondering weeks ago, “How long is Jeffrey Epstein for this world?” Read it and more here.

    While my cynicism-o-meter has hit a new peak — or trough, depending how one measures this sort of thing — I and surely many, many others were expecting exactly what has happened.

    Are we near the end game? Depends I guess on how one defines “end game.” Whatever it is, it won’t be pretty and it won’t be good for anyone, including the main players.

    Login or Register to post comments

  • Sun, Aug 11, 2019 - 2:31pm

    Reply to #6

    blackeagle

    Status Bronze Member (Offline)

    Joined: May 16 2013

    Posts: 228

    2+

    Déja Vu

    Ezlxq1949 wrote

    Are we near the end game? Depends I guess on how one defines “end game.” Whatever it is, it won’t be pretty and it won’t be good for anyone, including the main players (Underline mine)

    May be not. This is déja vu 30 years ago. Algeria: Same kind of crooks in power, same gimmicks, same overt actions, same social injustice, and 30 years later things have not changed much. Same people in power. People on both sides have an almost infinite ability to adapt. As long as people have something not too disgusting to eat, they will endure.

    My 2 cents…

    Login or Register to post comments

Login or Register to post comments